How to Save on Chevy Corvette Insurance in Cincinnati

Insurance rates Chevy Corvette in CincinnatiIt takes a little time, but the best way to get low-cost Chevy Corvette insurance in Cincinnati is to compare quotes annually from insurance carriers in Ohio.

A valuable tip to remember is to use similar coverage information on every quote request and and to get prices from as many different insurance providers as possible. Doing this provides a fair price comparison and a complete price analysis.

It’s a fact that insurance companies don’t want you to compare rates. Insureds who get comparison quotes at least once a year will probably switch insurance companies because there is a good probability of finding a lower rate. A recent survey found that people who faithfully checked for cheaper rates saved $865 a year compared to policyholders who never shopped around for lower prices.

If finding budget-friendly insurance in Cincinnati is your target objective, then having an understanding of how to compare insurance premiums can help you succeed in finding affordable rates.

If you are insured now or just want to save money, use these cost-cutting techniques to lower your rates and still get good coverage. Comparison shopping for the best-priced auto insurance policy in Cincinnati is not as difficult as people think. Drivers just have to learn the most time-saving way to compare rates from multiple carriers.

Cheapest companies for Chevy Corvette insurance

The auto insurance companies shown below can provide comparison quotes in Cincinnati, OH. To find cheaper auto insurance in Cincinnati, OH, it’s highly recommended you click on several of them in order to get a fair rate comparison.

Rates and other information

The table below outlines estimates of policy rates for Chevy Corvette models. Having knowledge of how insurance quotes are calculated is important for you to make smart choices when selecting a policy.

Chevrolet Corvette Insurance Rates in Cincinnati, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $232 $530 $158 $10 $48 $978 $82
Corvette GS 2-Dr Coupe $276 $592 $158 $10 $48 $1,084 $90
Corvette 2-Dr Convertible $276 $592 $202 $12 $60 $1,142 $95
Corvette GS 2-Dr Convertible $298 $654 $202 $12 $60 $1,226 $102
Corvette Z06 2-Dr Coupe $298 $654 $158 $10 $48 $1,168 $97
Corvette ZR1 2-Dr Coupe $384 $900 $158 $10 $48 $1,500 $125
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Data variables include married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Prices do not factor in your specific Cincinnati location which can alter prices substantially.

Higher deductibles save money

One of the more difficult decisions when buying auto insurance is which comprehensive and collision deductibles to buy. The premium rates below can help show the rate differences between high and low coverage deductibles. The first table uses a $250 deductible for comprehensive and collision coverage and the second price table uses a $1,000 deductible.

Chevrolet Corvette insurance premium estimates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $244 $454 $150 $10 $44 $927 $77
Corvette GS 2-Dr Coupe $288 $506 $150 $10 $44 $1,023 $85
Corvette 2-Dr Convertible $288 $506 $192 $12 $58 $1,081 $90
Corvette GS 2-Dr Convertible $310 $558 $192 $12 $58 $1,155 $96
Corvette Z06 2-Dr Coupe $310 $558 $150 $10 $44 $1,097 $91
Corvette ZR1 2-Dr Coupe $402 $770 $150 $10 $44 $1,401 $117
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Chevrolet Corvette insurance premium estimates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $150 $286 $150 $10 $44 $640 $53
Corvette GS 2-Dr Coupe $178 $318 $150 $10 $44 $700 $58
Corvette 2-Dr Convertible $178 $318 $192 $12 $58 $758 $63
Corvette GS 2-Dr Convertible $192 $352 $192 $12 $58 $806 $67
Corvette Z06 2-Dr Coupe $192 $352 $150 $10 $44 $748 $62
Corvette ZR1 2-Dr Coupe $248 $484 $150 $10 $44 $936 $78
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Price estimates do not factor in zip code location which can alter premium rates greatly.

Using the premium rates above, we can conclude that using a $250 deductible costs approximately $29 more each month or $348 annually averaged for all Corvette models than opting for the higher $1,000 deductible. Since you would pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you normally go at a minimum 26 months between claim filings, you would come out ahead by selecting a higher deductible. Here is an example of how you can make your own decision.

Average monthly premium for $250 deductibles: $93
Average monthly premium for $1,000 deductibles (subtract): – $64
Monthly savings from raising deductible: $29
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $29
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 26 months

One thing to be aware of is that higher deductibles results in a higher out-of-pocket expense at claim time. You will want to have some savings in the bank in the event you need to pay the deductible.

Male drivers versus female drivers

The information below shows the comparison of Chevy Corvette car insurance rates for male and female drivers. Data assumes no accidents or driving violations, comprehensive and collision coverage, $250 deductibles, single marital status, and no discounts are applied to the premium.

Rate difference between full and liability-only coverage

The chart below shows the comparison of Chevy Corvette car insurance rates with full coverage compared to only the Ohio minimum liability coverage. The premiums assume a clean driving record, no at-fault accidents, $1,000 deductibles, single marital status, and no discounts are factored in.

When to stop buying full coverage

There is no written rule to drop full coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than 10% of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.

For example, let’s pretend your Chevy Corvette claim settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $2,000 after the deductible is paid. If you are currently paying more than $200 a year for your policy with full coverage, then you might want to think about dropping full coverage.

There are a few cases where buying only liability insurance is not a good idea. If you still owe money on your vehicle, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not opt for liability only.

Score discounts to get cheaper Cincinnati car insurance quotes

Car insurance is expensive, but there could be significant discounts to help offset the cost. Some discounts will apply at the time you complete a quote, but some discounts are required to be specifically requested before you will receive the discount.Discount car insurance

Discounts reduce rates, but you should keep in mind that most discount credits are not given to the overall cost of the policy. Most only cut specific coverage prices like collision or personal injury protection. If you do the math and it seems like it’s possible to get free car insurance, it just doesn’t work that way.

The example below compares Chevy Corvette car insurance costs with and without policy discounts. The rates are based on a female driver, no accidents, no driving violations, Ohio state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, homeowner, multi-car, marriage, and claim-free discounts applied.

Popular car insurance companies and their offered discounts are included below.

Double check with each insurance company which discounts they offer. Depending on the company, some discounts may not apply to policyholders in your area. If you would like to choose from a list of insurance companies with discount car insurance rates in Cincinnati, click this link.

Special considerations

Always remember that when buying coverage, there really isn’t a cookie cutter policy. Everyone’s situation is a little different.Drive safe and save

For instance, these questions can help discover if you will benefit from professional help.

If you’re not sure about those questions but you think they might apply to your situation then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form. It is quick, free and can help protect your family.

When should I have guidance from an insurance agency?

Many people would prefer to go talk to an agent and that can be a smart move Most agents can help determine the best coverages and give you someone to call. One of the best bonuses of comparing rates online is that you can find cheap auto insurance rates and still have an agent to talk to. Buying insurance from local agents is especially important in Cincinnati.

Cincinnati insurance agentsAfter completing this quick form, the coverage information is submitted to local insurance agents in Cincinnati who will give you quotes for your coverage. You won’t need to search for any insurance agencies because prices are sent directly to your email. If you wish to compare prices from a particular provider, you would need to go to their quote page to submit a rate quote request.

If you would like to find an insurance agent, it helps to know the two different types of agents and how they differ in how they can insure your vehicles. Agents in Cincinnati are categorized either exclusive agents or independent agents. Either one can sell auto insurance policies, but it is important to understand the difference in the companies they write for since it can impact the kind of agent you use.

Independent Auto Insurance Agents (or Brokers)

Independent agencies do not sell for just one brand so as a result can place your coverage through lots of different companies and find the cheapest rate. If you are not satisfied with one company, your policy is moved internally and you can keep the same agent.

When comparing rates, you should always include price quotes from at least one independent agent to maximize your price options. They often place coverage with companies you’ve never heard of which may provide better rates.

Shown below is a list of independent insurance agencies in Cincinnati that can possibly get you competitive price quotes.

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Exclusive Agencies

Exclusive agents can only provide one company’s prices and some examples include Farmers Insurance, State Farm, or Allstate. These agents are not able to compare rates from other companies so if the price isn’t competitive there isn’t much they can do. These agents are well schooled on their company’s products which helps offset the inability to provide other markets. Many people purchase coverage from exclusives partially due to the prominence of the brand instead of buying on price only.

Below are exclusive insurance agencies in Cincinnati that can give you price quotes.

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Finding a good auto insurance agent should depend on more than just the bottom line cost. A good agent in Cincinnati will have answers to these questions.

Insurance coverage breakdown

Learning about specific coverages of your policy helps when choosing the best coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and reading a policy is terribly boring.

Medical costs insurance

Medical payments and Personal Injury Protection insurance provide coverage for bills such as dental work, EMT expenses, hospital visits and nursing services. The coverages can be utilized in addition to your health insurance program or if you do not have health coverage. It covers all vehicle occupants as well as any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Auto collision coverage

Collision insurance pays for damage to your Corvette from colliding with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision insurance covers claims such as backing into a parked car, damaging your car on a curb, driving through your garage door, hitting a parking meter and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. Drivers also have the option to choose a higher deductible on your Corvette in order to get cheaper collision rates.

UM/UIM Coverage

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries and damage to your Chevy Corvette.

Due to the fact that many Ohio drivers only purchase the least amount of liability that is required (Ohio limits are 25/50/25), their limits can quickly be used up. So UM/UIM coverage is a good idea. Normally these limits are identical to your policy’s liability coverage.

Liability coverages

This protects you from damage or injury you incur to other’s property or people in an accident. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 25/50/25 which stand for $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Another option is one number which is a combined single limit which limits claims to one amount without having the split limit caps.

Liability insurance covers things like pain and suffering, bail bonds and repair bills for other people’s vehicles. How much liability coverage do you need? That is up to you, but you should buy as much as you can afford. Ohio state law requires minimum liability limits of 25/50/25 but it’s recommended drivers buy higher limits.

The illustration below demonstrates why buying the state minimum limits may not be adequate.

Comprehensive or Other Than Collision

Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things like fire damage, hitting a deer, vandalism, a broken windshield and damage from a tornado or hurricane. The most a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Car insurance companies ranked

Picking a high-quality auto insurance company can be challenging considering how many companies there are in Cincinnati. The company information listed below can help you decide which coverage providers you want to consider when shopping around.

Best Car Insurance Companies in Ohio
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 99 100 90 92% A++ 97.4
21st Century 89 86 100 88% A 92.7
GEICO 97 91 88 85% A++ 92.5
Nationwide 88 94 91 88% A+ 91.3
AAA Insurance 93 87 88 87% A 90.8
Liberty Mutual 91 91 92 87% A 90.7
Safeco Insurance 90 93 88 86% A 90.2
State Farm 91 94 80 88% A++ 90.2
Travelers 89 91 94 79% A++ 90.1
American Family 88 92 83 88% A 89.4
Titan Insurance 89 91 83 86% A+ 89.3
Allstate 90 90 84 85% A+ 89.1
Progressive 83 85 99 87% A+ 88.7
Erie Insurance 92 90 82 88% A+ 88.5
The Hartford 87 89 84 87% A+ 88
Esurance 84 88 85 83% A+ 86
Farmers Insurance 79 88 84 87% A 84.7
The General 88 80 85 80% A- 84.5
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Data Source: Best Car Insurance Companies

Compare. Compare. Compare.

When getting Cincinnati car insurance quotes online, do not buy less coverage just to save a little money. There are many occasions where someone sacrificed collision coverage to discover at claim time that it was a big mistake. Your strategy should be to buy a smart amount of coverage at the lowest possible cost while not skimping on critical coverages.

You just read many ideas to get a better price on Chevy Corvette insurance in Cincinnati. The most important thing to understand is the more rate quotes you have, the better your comparison will be. You may even be surprised to find that the lowest priced auto insurance comes from the smaller companies.

Budget-conscious Chevy Corvette insurance can be sourced online and from local agencies, so you should compare both to have the best selection. There are still a few companies who do not offer the ability to get a quote online and most of the time these small, regional companies prefer to sell through independent agents.

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